The size of the Breast Imaging Market in Latin America was valued at USD 0.42 Billion in 2021 and is Expected to Reach USD 0.65 Billion by 2026, growing at a CAGR of 8.79% during the forecast period.
The increasing incidence of breast cancer in Latin America is expected to drive the overall market growth during the forecast period. NCBI data suggests that breast cancer is the most common type of cancer and the leading cause of cancer death in women around the world and Brazil. In Brazil, there were approximately 45,000 deaths per year in Latin America, according to data from the Pan American Health Organization. In addition, breast cancer and related complications are expected to increase by more than 45%, from 627,700 in 2019 to 905,000 by 2035. According to the WHO, 26% of cancers were breast cancer, amounting to nearly 1.69 million cases across the world. The National Cancer Institute of Brazil estimated 60,000 new cases of breast cancer in 2018. Breast cancer is the most common type of cancer (excluding skin cancer other than melanoma) in women in most parts of Brazil. Moreover, periodic breast cancer screening programs aim to raise awareness of the importance of early diagnosis, which is another crucial factor in the growth of the breast imaging market in Latin America.
The prevalence of breast cancer is increasing in Latin America due to the increasing prevalence of hormone-related factors, such as delayed pregnancy and abuse of hormone replacement therapy, increased use of female contraceptive drugs, and lifestyle-related risk factors. In addition, there are increased incidences of other breast disorders such as fibromyalgia, fibrous cysts in the breast, and other cancers metastasizing in the breast region.
In addition, key companies focusing on the technological advancements of the various products such as hybrid imaging systems offer significant growth opportunities for players operating in the Latin American breast imaging market. Furthermore, private organizations are increasing in the Latin American health system, and favorable health services offering numerous reimbursement policies will help decrease the mortality associated with high-risk women seeing a doctor in a timely manner. Therefore, expanding medical device export is estimated to grow tremendously, which gives many growth opportunities for the Latin American breast imaging market in the years to come.
However, it is expected that the high cost of breast imaging procedures and strict regulatory approval, decreased investments for research and development, and high installation and maintenance costs are anticipated to impact the market growth rate negatively. In addition, other factors such as inadequate reimbursement policies and lack of healthcare awareness are hampering the growth of the breast imaging market in Latin America during the forecast period.
This research report on the Latin American breast imaging market has been segmented and sub-segmented into the following categories:
Geographically, the Brazilian market is estimated to hold the largest share of the Latin American breast imaging market. The combined health expenditure of major Latin American countries has been estimated at approx. USD 555 billion in 2015. The increasing prevalence of breast cancer in the region has dramatically increased the demand for diagnostic imaging technologies for better treatment, and high healthcare expenditure will drive the market in the area.
The Mexican market is estimated to be the fastest-growing regional market due to the government's growing emphasis on improving the health sector and high cancer prevalence in the region. According to a report published by the National Cancer Foundation, breast cancer accounts for about 11.5% of cancer incidence in women and men. It was also reported that around 1,850 cases of breast cancer in humans are recorded each year.
KEY MARKET PLAYERS:
A few of the promising companies operating in the Latin American Breast Imaging Market profiled in the report are Hologic, Inc., GE Healthcare, Siemens Healthcare, Philips Healthcare, Fujifilm Holdings Corporation Gamma Medica, Inc., Toshiba Corporation, Sonocine, Inc., Aurora Imaging Technology, Inc., and Dilon Technologies, Inc.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Ionizing Technologies
22.214.171.124 Digital Mammography
126.96.36.199 3D Mammography
188.8.131.52 Molecular Breast-Specific Gamma Imaging (MBI/BSGI)
184.108.40.206 Positron Emission Tomography and Computed Tomography (PET-CT)
220.127.116.11 Cone-Beam Computed Tomography (CBCT)
18.104.22.168 Positron Emission Mammography (PEM)
5.1.3 Non-ionizing Technologies
22.214.171.124 Breast MRI
126.96.36.199 Breast Ultrasound
188.8.131.52 Automated Whole-Breast Ultrasound (AWBU)
184.108.40.206 Breast Thermography
220.127.116.11 Optical Imaging
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Type
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
6.4 Rest of Latin America
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Hologic Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 GE Healthcare
8.3 Siemens Healthcare
8.4 Philips Healthcare
8.5 Fujifilm Holdings Corporation Gamma Medica Inc.
8.6 Toshiba Corporation
8.7 Sonocine Inc.
8.8 Aurora Imaging Technolog Inc.,
8.9 Dilon Technologies, Inc.
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures